Malaysia said on Friday it had a pipeline of investment projects worth about US$13 billion and that many local and foreign electrical and electronics (E&E) firms were looking to relocate their businesses to the country to diversify production.

Its five-decade-old E&E industry accounts for 10% of the global back-end semiconductor output, and the government said it was engaging high-technology businesses looking for alternative production sites after the Covid-19 pandemic and US-China trade war exposed their heavy dependence on China.